frank grimes Registered: Feb 2005 Posts: 949 01-16-08 09:25 PM good Lord! If you are long and trapped, sell. If you are right and short, get ready to cover 1/2. How many of the people that think that fed will save you traded the last time (1/01)?
Papa, if that happens i'll meet you where you live so we can burn all of our money. What a disaster that would be. Let this market trade to where it wants to go, whats so wrong with that?
I would not buy shit yet, way too early for that. This is just the expected FED action to fight the losing battle. Until people's incomes at least match inflation, you can forget about a resumption of the bull. But a nice relief rally is in order thus providing us with a great put buying opportunity.
I don't want that to happen, but to think that the FED will not step up with something is naive. Remember, I am ET's biggest bear and have been for along time. I am all about a free market, fuck the FED and Goldman. But you are intelligent enough to know the FED will not go down without a fight here.
ok so dow at 11,500 a big number...Question is....what would be the effect of panic Bernanke dropping rates tommorrow? Whipsaw city is my guess.....setting my alarm for 02:00 tommorrow!
The market needs to find it's own way to a bottom. If the fed comes in and cuts rate pre amrket, are you going to BUY a gap up opening? I'd sell with both hands. On the other hand, if the fed does nothing pre market, and the spooz open down 30 handles, i'd look to be a buyer. The fed is in a box right now, cutting rates willy nilly will be a death blow to the market and our economy.
cut rates before the opening or during the trading day tomorrow or even this week???????????? there is no way they will do that, you want to see the dollar drop even further and send inflation even higher......the federal reserve is not set up to save the stock market, they have cut how many times in the last 6 months and since that point the stock market is still off about 15% from its all time high. Rate cuts arent going to do anything but create more problems. Let the market do its own thing, what if the federal reserve cuts 50BP now and 50BP at the end of january and the market is trading under 11500, then what, you want them to cut even more? What if they cut rates down to 2% and the market starts to drop even further, cutting rates isnt going to matter.
Kinda ironic how many posts we get screaming for immediate cuts and how many posts we had about people furious over the magnitude of the 0.5% cut last year. Funny how quickly sentiment changes!